One of the biggest refinance deals in Belfast City Centre property has been completed between AIB and developer MRP following the opening on the iconic Ewart Building on Bedford Street, Belfast.
The £85 million iconic office building has been restored and redeveloped by MRP’s design and build construction partner McAleer & Rushe. The former Victorian linen warehouse is now physically connected at first and second floors to a new, contemporary, high specification 17 storey office, grouped around a central courtyard with convenient access to both Bedford and Franklin Street and immediately adjacent to the luxury Grand Central Hotel.
The 210,000 square foot building represents one of the biggest property redevelopments in Northern Ireland for some time, with MRP’s construction partner McAleer & Rushe creating Grade A office space with the capacity to accommodate over 2,000 employees.
The landmark building in the heart of the city, boasts some of the highest sustainability credentials available, achieving a top Energy Performance Certificate (EPC) ‘A’ rating and a BREEAM ‘Excellent’ score for environmental performance.
Speaking about the development, Ita Gillis, Finance Director at MRP Investment & Development said: “It has been a privilege to sensitively restore the Ewart Building to its former glory while also creating exemplar office facilities that reflect a modern and vibrant Northern Ireland. Its prime location – within walking distance to main transport hubs, conference centres and hotels – alongside the modern workplace and facilities, make it an ideal office space.
“Pivotal for our team managing this redevelopment was to marry Belfast’s rich heritage which was in the very fabric of the former linen warehouse with a firm focus on the future. Therefore, embedding sustainability as a central pillar of the build was key and we welcome the commitment of our partners like AIB to support projects that make sustainability pivotal to their success.”
Paddy McGuigan, Director of Commercial Real Estate at AIB said: “We are delighted to support our long-standing client MRP and design and build construction partner McAleer & Rushe, as they breathe life into one of Belfast’s most iconic buildings and help showcase that the city centre is well and truly open for business again post pandemic. Like us, MRP and the team are keen to champion innovative and sustainable projects that highlight the very best Northern Ireland has to offer, our strong heritage as well as our modern and dynamic approach to business.
Michelle Gass, Head of Commercial Real Estate UK at AIB added: “Similar to our own AIB headquarters not too far away on Ann Street, the Ewart Building has been created with sustainability at its heart. With operational zero waste to landfill, solar PV roof panels and a green energy tariff, the space provides tenants with best-in-class environmental performance while also offering businesses attractive and modern flexible office space in a Belfast architectural landmark.”
Ewart Building tenants include Deloitte, Tughans and Axa Insurance with the premises already at 70% occupancy.
